Qualcomm revenues up 7% y-o-y

Author: EIS Release Date: May 19, 2020

For calendar Q1 (FY Q2) Qualcomm had  revenues of $5.2 billion up 7% y-o-y.

Qualcomm said that Q1 demand for phones was down about 21% compared to its pre-coronavirus expectations.

It also warned of lower phone shipments in calendar Q2.

“Our guidance for the third quarter of fiscal 2020 (calendar Q2) being based on a planning assumption that there will be an approximate 30% reduction in handset shipments relative to our prior expectations,” said Qualcomm.

This year, the company expects to see sales of between 175 million and 225 million 5G-capable phones.

In calendar Q2 it expects revenues between $4.4 billion and $5.2 billion.